Not long after cashing in on his $75 million in wagers on the Houston Astros to win the World Series, Jim "Mattress Mack" McIngvale is back placing big sports bets -- this time on college basketball.
Mattress Mack placed two large wagers in Louisiana on Tuesday -- one for $500,000 at 10-1 odds at BetMGM and one for $1 million at DraftKings Sportsbook at 9-1 odds -- on the Houston Cougars to win the NCAA championship.
Mattress Mack had $10 million worth of futures bets on the Astros to win the Fall Classic, the largest of which was a $3 million bet on the Astros at 10-1 odds at Caesars Sportsbook, which was placed in Louisiana back in May. He also had a $1 million wager on the Astros at WynnBet at 12-1 odds and a $1 million wager at Betfred Sportsbook at 5-1 odds, among others.
The estimated $75 million was the largest payout ever in legal U.S. sports betting history.
Like most of his big wagers, it was tied to a mattress promotion for his Gallery Furniture store in Houston. He said on a recent VSiN appearance that business was booming.
"We had the biggest day in store history on Sunday, and then did 25% better on Monday," Mack said on VSiN before the World Series began. "We busted through the $75 million in liability, so we’re done taking bets on the mattresses right now. The customers are excited and they’re saying 'Go Astros.'"
The Cougars are now the favorites at +800 to win the title at DraftKings. They are the No. 3-ranked team in the nation.